MAY - Melbana Energy

[JBmurc]

A bit of a pullback after Thursday's part day excitement to close @ 17.5c

Plenty more run IMO with Logging & a further avalanche of announcements likely
on taming the captive resident Cuban Elephants lurking down under

Possibly opportunity of topping up for those happy with what they see..

Yes healthy breather till next Ann ..going from timeline put down by MAY Mgmt will be several important announcements coming over next few months ..I first though we could see 30c highs .this year .. now I think that could be hit within weeks ... 80c - $1 after the several AnnÂ’s if positive as they have been ... longer term no reason why we wonÂ’t be around BPT cap 3-4billion if block-9 is fully developed with billions of oil bbls in reserves ..

Still I think good chance we will see a major energy corporation make a move ..and make an offer we canÂ’t refuse before the years out .. you just donÂ’t see these kind of onshore oil fields undeveloped these days

[Sous87]

Agree. 30c is one or maybe a couple of flow test announcements away from being blown away. Think could easily be 40c + by end of April if results impress.
I missed the boat to top up, I decided to go into a couple other mining plays (thanks JB) when the MAY price was at 20.5c, only for it to drop back to 17.5. All good, very happy diversified camper here lol

[JBmurc]

Agree. 30c is one or maybe a couple of flow test announcements away from being blown away. Think could easily be 40c + by end of April if results impress.
I missed the boat to top up, I decided to go into a couple other mining plays (thanks JB) when the MAY price was at 20.5c, only for it to drop back to 17.5. All good, very happy diversified camper here lol

Yes anyone that’s holding MAY and is getting a tigger finger on the take the FAT Cap gain .. or on the sidelines and thinking they have missed the boat ... go look at HDR , CHN , DEG charts after major finds Ann etc these guy all had global significant discoveries ...we are still in early days 500% growth from micro cap into jnr ranks but could well be a Mid-cap to large cap energy play .. 4Q22 then we will have a better idea about MAY

[nztx]

A massive tree shake or Placement holders dropping their holdings ?

Not a bad opportunity to back up the truck - who knows ?

[JBmurc]

A massive tree shake or Placement holders dropping their holdings ?

Not a bad opportunity to back up the truck - who knows ?

yeah traders taking profits along with placement insiders taking profits selling shares already held ... seen it many times ... I wonder if we will get update tomorrow

[stoploss]

yeah traders taking profits along with placement insiders taking profits selling shares already held ... seen it many times ... I wonder if we will get update tomorrow

Is that another way to say pump and dump ?

[JBmurc]

Is that another way to say pump and dump ?

I'm sure many of the traders see it as a PnD and hope it goes as it has ... but at what point MAY has travelled from low 2c to 21.5c !!! and now back down to 14c ...
now if you paid high teens its pretty painful dump .. but those like myself av. 2.5c .. I sold a few 11c purchased a few back 16c .. I'm not stressed about today trading

As they say spec shares rise on a wall of worry ..we have another BIG fall to say below 10c on no news then I'll be not so happy >>

Really looking forward updates I don't think MAY high has been hit yet >>

[Sous87]

Really need to drop another announcement to wash the lingering bad taste of the cheap CR away. Hopefully after that we can get on with it.

[JBmurc]

https://unauthorised[/url] investment advice/energy/forwood-thinking-lowell-resources-funds-john-forwood-says-energy-and-gold-are-the-markets-to-play-in-these-turbulent-times/


Sector Picks
Forwood says Lowell’s aim is to hunt for the value uplift to be found from companies chasing new discoveries and resource growth at the small end of the listed market. He says one oil play and two gas explorers standout right now.

One is Melbana Energy (ASX:MAY), which is up ~92% over the past month after interpreting a “significant oil reservoir” at the Alameda-1 well in Cuba.

“Melbana is right in that spot at the moment, it’s drilling as we speak a really very substantial oil reservoir in Cuba,” Forwood said.

“And this particular well is going down right now, it’s intersected its first two targets and exceeded the pre-drill prognosis of what might be in those first two targets.

“But the bottom target is actually the biggest one. So if that comes in, then the share price appreciation we’ve already seen — I think it’s up about three times already since the well started — It’ll probably double and possibly even double again from here.”

[JBmurc]

BIG week coming up for MAY >> logs for Marti and Alameda ...do we have a monster onshore Oil discovery .. if so should push well into the 20's